Sarasota Inc., a greeting card company, had the following statements prepared as of December 31, 2017.

SARASOTA INC. COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2017 AND 2016
		12/31/17			12/31/16
Cash		$6,000			$6,900
Accounts receivable		62,400			50,800
Short-term debt investments (available-for-sale)		35,100			18,100
Inventory		40,100			60,400
Prepaid rent		5,100			4,000
Equipment		152,400			131,000
Accumulated depreciationequipment		(34,700	)		(24,800	)
Copyrights		45,500			49,900
Total assets		$311,900			$296,300
Accounts payable		$45,900			$39,900
Income taxes payable		4,000			6,000
Salaries and wages payable		8,100			4,000
Short-term loans payable		8,100			10,000
Long-term loans payable		59,500			68,700
Common stock, $10 par		100,000			100,000
Contributed capital, common stock		30,000			30,000
Retained earnings		56,300			37,700
Total liabilities & stockholders equity		$311,900			$296,300

SARASOTA INC. INCOME STATEMENT FOR THE YEAR ENDING DECEMBER 31, 2017
Sales revenue				$337,125
Cost of goods sold				176,500
Gross profit				160,625
Operating expenses				120,600
Operating income				40,025
Interest expense		$11,400
Gain on sale of equipment		2,000		9,400
Income before tax				30,625
Income tax expense				6,125
Net income				$24,500

Additional information:

1.		Dividends in the amount of $5,900 were declared and paid during 2017.
2.		Depreciation expense and amortization expense are included in operating expenses.
3.		No unrealized gains or losses have occurred on the investments during the year.
4.		Equipment that had a cost of $20,000 and was 70% depreciated was sold during 2017.

Prepare a statement of cash flows using the indirect method.

SARASOTA INC Statement of Cash Flows